Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Saturday, May 5, 2007

Dow Jones: Shareholder Suit and Insider Trading

Nora Vides, a Dow Jones shareholder, filed suit May 3 in New York state court, charging that the Dow Jones board of directors breached its fiduciary duty by its "hasty" rejection of the News Corporation's bid for the company, allegedly so that the directors could maintain "their controlling voting position against any real or perceived threat."  As to the other constant about big deals -- insider trading, WSJ reports that trading in Dow Jones options from late April to the public announcement was about 10,000 options, compared to about 7,000 options for the entire first quarter.  See WSJ, Regulators Probe Suspicious Trading in Dow Jones.

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